By Ragab Ezz el-Din
Arabiya Investment and Development Holding Company said its subsidiary, " KAHROMIKA ", has decided to double its capital from 100 million to 200 million pounds.

The company said in a statement sent to the Egyptian Stock Exchange on Wednesday that The Mechanical and Electrical Projects (KAHROMIKA) Board of Directors agreed to double the capital by 100 million pounds in nominal value per share.

The subscription period will start from May 31 to July 2, and if one of the shareholders does not subscribe during the subscription deadline, the second subscription will be opened directly and the shares not subscribed to will be put up to the rest of the shareholders.

Founded in 1971, KAHROMIKA is a leading Egyptian shareholding company in the field of electricity. Its ownership structure is divided between Arab Investments (51%), Holding Company for Construction and Development (39%) and Elsewedy Electric (10%).